Should I Put My Money Into Overfunded Whole Life Insurance

Overfunded Whole Life Insurance when set up and used properly will be you AND Asset not your OR Asset. 

In today's Better Wealth, I continue the asset analyzer series where I look at different places where you can put your money by comparing them to the 11 attributes to the perfect asset. In today’s podcast I evaluate whether you should put your money into Overfunded Whole Life Insurance. In this series we have been taking a step back and not getting emotional about a product but really asking ourselves what is the outcome of what we want and will this asset help me move forward in reaching that outcome. Listen as I talk about the largest issue we face is when people look at Overfunded Whole Life Insurance (AND Asset) as an investment only, a place to grow money and they miss out on all the other benefits. Join me on our BetteWealth YouTube Channel to see how I have structured my AND Asset and how it functions and works for me as an AND Asset and not an OR Asset. 

1. Safe (Low Risk): Your money suffers little to no risk of loss.
2. Liquidity: Your money is accessible for emergencies or opportunities.
3. Growth: Your money multiples at a competitive rate of return.
4. Passive Cash-Flow: Your money produces income on it’s own. 
5. Leverageable: You can use your money as collateral.
6. Private: Your money grows without restrictions and has creditor protection.
7. Tax Deductible:You can subtract any money you put into the account from your taxable income.
8. Grows Tax-Free: Your money grows without being taxed.
9. Tax-Free Distribution: You can access your money without paying taxes on it. 
10.  Protection/Legacy: You are provided for in the event of tragedy and are self completing.
11.  No Contribution Limits: You have no limits on how much you can fund in the asset. 

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